High-Technology Investment Tax Credit Worksheet - Maine Revenue Services

2003

HIGH-TECHNOLOGY INVESTMENT

TAX CREDIT WORKSHEET

36 M.R.S.A. § 5219-M

TAXPAYER NAME: ____________________________________________ EIN/SSN:

__________________

Note: Owners of passthrough entities (partnerships, LLCs, S corporations, trusts, etc.) making an eligible

investment, see last paragraph of general instructions. Also, please provide name and ID number of the passthrough

entity on the lines below.

NAME OF PASSTHROUGH ENTITY

EIN/SSN

_____________________________________________________________

_________________________________

1. Carryforward from previous year. ............................................................................................... 1 ______________

2. Investment credit base for eligible equipment purchased and used by the taxpayer. Also enter

on this line the investment credit base for eligible equipment purchased and leased to lessees, less

the lease payments received on the equipment. Note: The lessor may claim a credit on leased

equipment only if the lessee waives its right to claim the credit. See instructions. ........................... 2 ______________

2a.Amount of investment credit base from line 2 also claimed as a business

expense for federal tax purposes. Enter here and on Form 1120ME, line 4f

or 1040ME, Schedule 1, line 1f. ........................................................... 2a ______________

3. Enter lease payments paid on eligible equipment less any lease payments received on the

equipment from sub-lessees. Note: The lessor may claim a credit on leased equipment

only if the lessee waives its right to claim the credit. ...................................................................... 3 ______________

4. Total credit available this year. Line 1 plus line 2 plus line 3.

(Corporations enter here and on Form 1120ME, Schedule C, line 29i, Credit Claimed) ............. 4 ______________

5. 2003 tax (Form 1120ME, line 7c or Form 1040ME, line 23) ............................................ 5 ______________

6a. 2002 tax (Form 1120ME, line 7c or Form 1040ME line 23) .......................... 6a ____________

6b. 2002 Other Credits (Form 1120ME, Schedule C, line 29o minus

line 29i or Form 1040ME, Schedule A, line 25 minus line 18. ......................... 6b ____________

6c. 2002 tax less other credits (line 6a minus line 6b). .................................................................... 6c ______________

7. Subtract line 6c from line 5 and enter the difference here. If zero or less, enter zero. ..................... 7 ______________

8a. 2003 Tax (Form 1120ME, line 7c or Form 1040ME, line 23). ..................... 8a _____________

8b. 2003 Other Credits (Form 1120ME, Schedule C, line 29o minus

lines 29h and 29n or Form 1040ME, Schedule A, line 25 minus

lines 17and 23). ............................................................................................ 8b ____________

8c. 2003 Tax Less Other Credits (line 8a minus line 8b). ................................................................. 8c ______________

9. Credit Amount. Enter the lesser of line 4, line 7, line 8c or $100,000. In some cases, the

maximum allowable credit is $200,000, depending on the allowable carryforward on line 1.

Read the general instructions on reverse side regarding carryforward amount before making

an entry on this line. (Enter allowable credit on Form 1120ME, Schedule C, line 29i or

Form 1040ME, Schedule A, line 18). .......................................................................................... 9 ______________

Rev 12/03

High-Technology Investment Tax Credit Worksheet - Maine Revenue Services - 2003